China: soybean imports reached year high

China, the world's largest soybean buyer, has imported 9 million tons of soybeans in December. This is the largest monthly total 2016. This is an increase of 14.8% compared to the previous month of November (7.84 million tons). Overall, China imported 83.9 million tons of soybeans (+ 2.7% the previous year) in the year 2016. That is the smallest increase for years, because China increased the production of soybeans. Also, the sale of soy beans from State reserves led to a decline in the demand for soy beans from overseas.
China's soybean imports usually rise during the winter months, when the new soybean crop available in the United States and damitbegiinnen Chinese animal feed producers to build up stocks before the Chinese new year.
Chinese demand benefited after soybeans from the anti-dumping duty introduced by China on U.S. Distillers dried grains (DDGS), the feed is a by-product from the production of ethanol. (Read also our messages from 11.1.2017 16:51 Uhr and the 12.01.2017 10:16 Uhr)

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